Pub. 11 2020 Issue 1

www.wvbankers.org 4 West Virginia Banker 22 CONTENTS The West Virginia Banker magazine was recognized with an Award of Distinction in the Overall Design Category. The Communicator Awards are the leading international creative awards program honoring creative excellence for communication professionals. Founded over two decades ago, The Communicator Awards are an annual competition honoring the best in advertising, corporate communications, public relations and identity work for print, video, interactive and audio. The 24th Annual Communicator Awards received over 6,000 entries from top ad agencies, interactive agencies, production firms, in-house creative professionals, graphic designers, design firms, and public relations firms around the world. 12 ©2020 The West Virginia Bankers Association | The newsLINK Group, LLC. All rights reserved. West Virginia Banker is published four times each year by The newsLINK Group, LLC for the West Virginia Bankers Association and is the official publication for this association. The information contained in this publication is intended to provide general information for review, consideration and education. The contents do not constitute legal advice and should not be relied on as such. If you need legal advice or assistance, it is strongly recommended that you contact an attorney as to your circumstances. The statements and opinions expressed in this publication are those of the individual authors and do not necessarily represent the views of the West Virginia Bankers Association, its board of directors, or the publisher. Likewise, the appearance of advertisements within this publication does not constitute an endorsement or recommendation of any product or service advertised. West Virginia Banker is a collective work, and as such some articles are submitted by authors who are independent of the West Virginia Bankers Association. While West Virginia Banker encourages a first-print policy, in cases where this is not possible, every effort has been made to comply with any known reprint guidelines or restrictions. Content may not be reproduced or reprinted without prior written permission. For further information, please contact the publisher at: 855.747.4003. 6 A Message From the Chief Executive: Keeping PaceWith the Times By Sally Cline 9 3DES Encryption is Being Retired: What That Means for Your Bank By Chris Joseph, Arnett Carbis Toothman, LLP 12 Who Says You Can’t Teach an Old Dog New Tricks? Notice of Proposed Rulemaking to the Community Reinvestment Act By Elizabeth Madlem, Compliance Alliance 14 A Banker’s Guide Through the Top Strategies of 2020 By Steve DuPerrieu, CSI 16 The SECURE Act: the Good, the Bad and the Ugly By Emily Lambright, Bowles Rice LLP 20 Think Your Debt Is Dead in the Water? Think Again! By Travis Knobbe, Spilman Thomas & Battle, PLLC 22 Key Considerations for Banking Hemp Producers in West Virginia By Mark Mangano, Jackson Kelly 24 Contingency Funding Plans: What to Expect From Examiners By Kelly Shafer, Suttle & Stalknaker 26 Don’t Hitch Your Strategy to a Rate Forecast By Lester Murray, The Baker Group 28 Fintech Sandbox By Sarah Biller, Vantage Ventures 30 Calendar of Events